Weekly African Footprint: August 09 , 2013

Below is a headline summary of our Weekly African Footprint. Please click here for more detailed reports. It includes the following:

Quick summary table displaying the performance of all the African Stock Exchanges and African currencies on a WTD and YTD basis. Summaries of the keys markets and relevant economic and corporate news.

Do not hesitate to contact us should you require further information.

Egypt

•  Egypt foreign reserves jump to $18.8 bn in July
•  Egypt Sees IMF Accord Crucial to Economic Rebound, Minister Says

Ghana

•  Ghana cocoa light crop purchases at 41,465 T by July 25
•  Economy pays hefty price for keeping large deficits

Kenya

•  Barclays Kenya sees recovery after one-off hit to H1
•  National Bank of Kenya profits edge up, lower rates help
•  Investors push for high returns on T-Bills hurts State cash plan
•  Kenya acts to get a bigger share of mineral resources
•  Kenya’s tourism numbers fall, outlook gloomy

Mauritius

•  Mauritius's Sun Resorts loss widens on fewer tourists, higher costs
•  New Mauritius Hotels’ nine months profit down 30%
•  Mauritius 364-day treasury bill yield inches higher
•  Mauritius annual inflation unchanged at 3.6 pct in July

Nigeria

•  Fidelity Bank records NGN 11.2bn in 6 months
•  Heritage Bank partners institution on SME’s support
•  Union Bank posts NGN 13bn half year profit
•  UBA Capital shares rise on impressive half-year results
•  Diamond Bank announces 14% growth in operating income
•  Diamond Bank targets NGN 35bn profit in 2013
•  Nigerian interbank rates up on expected CRR debit
•  Interbank rates rise on banks reluctance to place funds
•  NSE’s market capitalisation sheds weight by N23b
•  Nigeria naira weakness may persist in face of cbank moves
•  AFDB: Nigeria risks credit crunch as oil production dips
•  T-Bills, money market rates to skyrocket in August

Zambia

•  Zambia Sugar can produce 10 p.c. fuel needs
•  Kaboko Mining to raise funds from Aussie exchange

Zimbabwe

•  Zimplats spends USD 50m as procurement from local firm rises
•  Zimplats revenues down 26 percent
•  Freda Rebecca gold output rises
•  CZI to discuss CD1s acquittal
•  Disputed poll casts shadow on economy
•  Banks ‘stop new loans’ on policy worry
•  Stock market plunges on poll outcome
•  Tobacco mop-up sales begin
•  Zimbabwe investment inflows decline
•  Zanu PF vows to boost black ownership of Zimbabwe economy